1
                                                                    Exhibit 23.1





                      Consent of Independent Accountants
                      ----------------------------------


We hereby consent to the incorporation by reference in this Post Effective
Amendment No. 4 on Form S-8 to the Registration Statement on Form S-4 of Phelps
Dodge Corporation of our report dated January 14, 1999, relating to the
financial statements appearing in Phelps Dodge Corporation's Annual Report on
Form 10-K for the year ended December 31, 1998. We also consent to the
incorporation by reference of our report dated January 14, 1999, relating to
the financial statement schedule, which appears in such Annual Report on
Form 10-K.


PricewaterhouseCoopers LLP


Phoenix, Arizona
December 1, 1999